Debt Settlement and Negotiation Industry forms new Trade Organization The debt settlement and negotiation industry has formed the United States Organizations for Bankruptcy Alternatives ("USOBA") to provide industry education, lobby, promote industry-oriented regulation and advance certain consumer protections. The new organization's first convention will be held in Washington, D.C. on November 18 and 19. The USOBA can be contacted care of Kallie Guimond, Executive Director, 202-232-6500, and online at www.USOBA.org _____________________ Proposed Bankruptcy Bill would bar certain deferred-compensation benefits Employers in Bankruptcy that terminate underfunded pension plans would be barred from paying or promising deferred compensation benefits to Directors and Officers for 5-years under legislation introduced in the House of Representatives. According to the Bill's sponsor, Rep. George Miller, D-Calif., the legislation is needed to ensure fairness. He noted that "[t]here are too many examples of private companies taking care of their executives' retirement compensation plans while they allow their employees "hard-earned retirement plans to be ruined." Rep. Miller is the ranking minority member on the House Education and the Workforce Committee.